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BREAKING: Big Banks All Pass Stress Test

The Federal Reserve on Thursday said that all 31 of the largest banks operating in the U.S. passed its annual stress tests, which are used to examine their ability to withstand a severe economic downturn.

  • NJ Reveals $225M Deal With Exxon Over Refinery Pollution

    New Jersey Gov. Chris Christie's administration on Thursday publicly revealed details of a controversial $225 million settlement with ExxonMobil Corp. over environmental pollution from refinery operations in Bayonne and Linden and defended the deal that critics have said severely undervalues nearly $9 billion in alleged damages.

  • Bank Of Beirut Fined £2M For Stalling UK Regulator's Inquiry

    The U.K.’s Financial Conduct Authority imposed a £2.1 million ($3.2 million) fine Thursday on Bank of Beirut for giving “misleading information” during FCA inquiries and blocked the bank from signing up new customers in high-risk areas for four months.

  • Wachtell Guides AbbVie In $21B Pharmacyclics Buy

    Drugmaker AbbVie Inc. will pay $21 billion for Pharmacyclics Inc.,  the company announced Wednesday, a pickup that gives AbbVie, guided by Wachtell Lipton Rosen & Katz, access to one of the most promising cancer drugs on the market after a major deal-making flop last year.

  • Kleiner VC Doerr Defends Pao’s Treatment In Sex Bias Trial

    Venture capital legend John Doerr on Wednesday defended his treatment of interim Reddit CEO Ellen Pao while she worked at Kleiner Perkins Caufield & Byers LLC, countering claims she faced sex discrimination with testimony that he poured resources into helping her improve before she was fired for performance reasons.

  • Senate Falls Short On Keystone XL Veto Override

    The U.S. Senate fell short Wednesday on a vote to override a presidential veto on a bill approving TransCanada Corp.’s contentious Keystone XL pipeline, failing to attract the necessary two-thirds majority to support the measure.